Step 1: Qualify the Property for Retail Buyers Profits
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Property Criteria
Making sure the property condition is acceptable for the Retail Buyer Profit Program -
Seller Criteria
Qualify the Seller to Make Sure they Will Participate in the RBP Program -
The Numbers
Making sure, using the RBP Calculator, that the Numbers Work for the Retail Buyer Profits Program
Step 2: The Purchase Contract Package (the magic of the program)
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The Purchase Contract
This contract package is attorney reviewed and can be used in all 50 states. We will explain in detail so you understand completely. -
The Attorney-in-Fact (used to list the property on the MLS)
You must use the right AIF letter to be able to list properties on the MLS to find retail buyers -
Understanding the Transaction So You Know how to Execute
We show you the difference between a wholesale transaction and the RBP deal, where you can make $10K to $50K more.
Step 3: Explaining the RBP Program to the Seller with Ease
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The RBP Positioning Script (GOLD)
Time tested and proven script to explain the RBP system to the seller with ease -
The Recap (setting the correct expectation and get complete buy-in)
This is where you “future pace” your seller and what will happen in the RBP program -
Getting Pictures from the Seller is Key
Use this special script to get the seller to take the best pictures for you at NO cost
Step 4: Open Escrow The Right Way
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Finding a Closing Agent
Having an experienced closing agent to close your deals is CRITICAL!. In this video we explain exactly what you are looking for and why. -
Email Swipe Copy to the Agent
You Must Have This!! This one email will set the stage for your transaction. It explains the entire transaction from start to finish with clarity and transparency. -
Sending Purchase Contract Template
The title agent needs to know the specifics of the transactions. Use this template to send your contracts and look like a pro knowing exactly what you’re doing.
Step 5: List Property to Local Realtor
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Finding a Realtor on Realtor.com
You MUST find a Rockstar Agent that will list your property and essentially work for you. PLUS, if they have good contractors it will be very beneficial. -
The Rock Star Agent Script
Use this time tested and proven agent script to vet and find the best agent to list your property. -
Agreement with Homeowner Script
Showing the property is imperative. There are 3 types of showings and in this video we explain each one and positioning of each. -
Access – Seller or Lockbox (what to do and how)
Arranging access is a must to have a smooth showing to sell your property fast!!
Step 6: Accept Highest and Best Offer
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Best Offer to Accept
There are so many offer variables; Cash, FHA, Concessions, VA Loans and more. Knowing which offer is the best and why is critically important. -
Concessions
Concessions are what the seller is asking for with their offer. This is negotiable. We’ll show you how to negotiate these concessions and explain what is acceptable and what is not. -
Repairs
Some loan types require the property to be fixed prior to close of escrow. There is a unique way to work with the seller, agent and a contractor to get any repair items fixed without having to front any money. This video alone will save you thousands up front. -
Commissions
A traditional listing will come with 3% to the buyer agent and 3% to the selling agent. This too is negotiable. If a deal is tight, you can learn how to negotiate these commissions. -
Appraisal
The property will get appraised by the buyer’s lender, no sweat! You’ll learn how to work with the sellers and the agents to get this scheduled, PLUS you’ll learn what happens if the appraisal comes in LOWER than expected. -
The Numbers – Are You Making Money? You Need this Calculator!
This is HUGE! You must run the numbers to make sure that the offers will be profitable once accepted. Using the Retail Buyer Profits Calculator is critical in this step!
Step 7: Record Special Document
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Record Notice of Interest
Knowing exactly how to fill out the NOI and recording the document and using the RNOI to make sure you get paid!
Step 8: Closing the Deal
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Inspection
The buyer might want to have an inspection done. No problem! If so, they might request items to be fixed. We show you how to get this done without spending any money out of pocket and completing the repairs for the very best price possible even if you are virtually wholesaling or in your local market. -
Appraisal
We will show you how to schedule this with the seller and work with the agent and lender to get the deal closed. -
Top 10 Potential Problems Solved!
There are problems that arise in any transaction. We cover the 10 most common problems when executing a Retail Buyer Profits transaction. This video is critical and is a MUST watch!!